Byggfakta Group Receives Buyout Offer
On Friday, Byggfakta Group Nordic HoldCo AB disclosed that its internal committee has recommended shareholders to accept a buyout bid from a consortium, valuing the Swedish software company at approximately 10.1 billion kronor ($982.07 million). This development led to a surge in the company’s shares to a near one-year high.
Consortium’s Offer and Market Reaction
The consortium, featuring Macquarie Capital, is proposing a cash offer of 46 Swedish kronor for each share, marking a substantial 31% premium to the stock’s previous closing price.
Byggfakta, a key player in Sweden’s construction industry, witnessed its shares jump by around 30% to 45.80 kronor, reaching its highest level since early January 2023. Despite this positive momentum, the stock continues to trade significantly below its October 2021 IPO price of 75 kronor per share.
Henrik Lif, representing consortium member Stirling Square Capital Partners, expressed satisfaction with unanimous support from the independent bid committee and Byggfakta’s former managing director, Stefan Lindqvist, who has committed to accepting the offer.
Byggfakta clarified that the consortium, which also includes private equity firms TA Associates and Stirling Square, has no plans for substantial changes to the company’s employees, management team, or operations. Currently, the consortium collectively owns a 67.4% stake.
Read More (Innovation – Tech Foom)
